Press release from TheNewswire.ca
Loyalist Group Limited Updates its Acquisition of WTC
Tuesday, October 18, 2011
Loyalist Group Limited Updates its Acquisition of WTC08:47 EDT Tuesday, October 18, 2011(via Thenewswire.ca) Toronto, Ontario - October 18th 2011 - Loyalist Group Limited ("Loyalist" or the "Corporation") (TSX Venture Exchange: LOY), would like to update its proposed acquisition of Western Town College ("WTC"), located in Vancouver, British Columbia, further to its Letter of Intent previously announced in its News Releases dated August 5th and September 9th 2011. Further to the terms and conditions of an amending agreement dated September 25th 2011, the terms of the acquisition has been amended as follows: (i) the purchase price for all of the issued and outstanding securities of WTC has been amended to $300,000; payable as follows: (a) $200,000 to be paid on or before November 15th 2011; and (b) $100,000 to be paid on or before November 30th 2011. All other terms remain unchanged. About Loyalist Group Limited Run by experienced professionals in the private education sector, Loyalist Group Limited, through its wholly owned subsidiary McKinsey Education Group, provides educational services with an emphasis on teaching: (i) English as a Second Language, and (ii) professional development courses. To receive corporate news updates send your email to email@example.com and mention ?Loyalist News' on the subject line. For further information, please contact: ------------------------------------------------- |Andrew Ryu |Jeanny So | |Loyalist Group Limited |CHF Investor Relations| |CEO |Director of Operations| |T: (416) 977-9800 |T: (416) 868-1079 x225| |E: firstname.lastname@example.org|E: email@example.com | | | | ------------------------------------------------- Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release, in accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, the Corporation notes that some statements in this news release look forward in time based on assumptions, uncertainties and management's best estimates of future events, and involve risks and uncertainties that may affect the Corporation`s actual results of operations. The following important factors, among others that are discussed in Corporation filings, could cause actual results to differ materially from those set forth in the forward-looking statements such as, but not limited to risks related to any of the Corporation`s announced acquisitions failing to close or becoming delayed before closing; reliance on the South Korean contract since it provides the majority of existing revenues; dealings in international jurisdiction where Canadian laws do not apply; any loss of certain key personnel; levels of students enrolment; delays in rolling out the online education programs may cause loss of market share; factors affecting ability to successfully compete amongst range of education options available in market; and currency fluctuations versus the Canadian dollar (i.e. South Korean won); and any detrimental affects upon the ``McKinsey`` brand. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in Loyalist Group Limited's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Loyalist Group Limited has no intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. Copyright (c) 2011 Thenewswire.ca - All rights reserved.